"We are not very happy with our performance over the last two years in the financial year 2012, 2013. Our growth rate was about 5.8 per cent compared to the 11 per cent for the Indian software industry," Murthy said.
For the ongoing fiscal, which closes on March 31 this year, Infosys expects revenue growth to be somewhere between 11.5 per cent and 12 per cent.
Stressing that there is "absolutely nothing wrong" with its Infosys 3.0 strategy, Murthy accepted that the company could have "done a better job in executing that strategy".
As part of the Infosys 3.0 strategy, the country's second largest software firm intended to focus on transformational projects, new solutions like cloud computing and mobility as well as enhance focus on products, platforms and solutions.
He added that Infosys has set about an action plan to move towards better growth rate and better margins.
Infosys CEO and MD SD Shibulal said he expects sluggish growth in January-March quarter due to muted client spending, especially in retail and may spill over to 2014-15 fiscal.
Reacting to this, the firm's shares made a weak opening at the BSE and further plunged 9 per cent to Rs 3,340.
Its shares fell by 8.54 per cent to close at Rs 3,357.50 apiece on the BSE today.
